Day: October 13, 2021

Declining Interest in Bitcoin-Margined Futures Promises Lesser Price Volatility — CoinDesk

A trader essentially takes a loss on both the collateral and the futures contract. Thus, margin requirements increase at a faster rate with price declines, and longs get liquidated relatively quickly. That, in turn, puts further downward pressure on the market, leading to a deeper slide, also known as leverage washouts, like the one seen in May. Long liquidation refers to forced closure (forced selling) of bullish positions due to margin shortage. Source

Crypto-Focused Equities ETF Could Begin Trading in Australia in Coming Weeks — CoinDesk

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source

Binance to suspend Chinese yuan from P2P platform in December

Binance crypto exchange officially announced on Wednesday that the company will delist the Chinese yuan (CNY) from its peer-to-peer trading platform on Dec. 31. Alongside terminating yuan trading pairs, Binance will continue further restricting access to its platform for users from mainland China, introducing new measures for accounts found to be linked to the region. Binance will specifically limit such accounts to “withdrawal only” mode, limiting transactions to withdrawals, redeeming and closing positions. Binance emphasized that the company “withdrew from the Chinese mainland market in 2017” and has not been…

Police in China’s Zunyi City Bust a $124M Money Laundering Scam

Police in China’s southwest region busted a group that was using cryptocurrencies to launder stolen money, which involved 800 million yuan (US$124 million), according to local media. Authorities in Zunyi, a city in China’s Guizhou province, were on the case for two months, following a directive from the State Council, China’s minister cabinet, according to a report from a local news site. The police arrested 100 suspects and solved 332 cases of telecom fraud nationwide, according to the report. China’s top regulators banned all crypto-related transactions on Sept. 24. The…

Charlie Lee Sums Up Litecoin’s 10 Years History. Part Four: SegWit Activation

Today is the day, Litecoin’s 10th anniversary. Congratulations to Charlie Lee and everyone involved in the project over the years. We are exploring Litecoin’s history through the eyes of its creator. We covered its fair launch, the long-hard road to exchanges adopting LTC, and we introduced the SegWit story. It’s time to finish it.  The last time, we introduced Bitmain’s co-founder Jihan Wu. Reportedly, he was singlehandedly stopping SegWit adoption in the Bitcoin blockchain. Lee’s plan was to use Litecoin as a Testnet of sorts for SegWit. “I realized that…

SEBA Bank Introduces Program for Clients to Earn Yield on Crypto

Digital-asset platform SEBA Bank has introduced a product that will allow clients to earn yield on their crypto holdings. The Zug, Switzerland-based firm’s SEBA Earn will let institutions generate income from proof-of-stake protocols such as Polkadot, Tezos and Cardano, with other networks being added over time. The platform will also enable investors to lend bitcoin and ether through SEBA Bank, the company said Wednesday. Swiss financial regulator FINMA-licensed SEBA says it will be the first fully regulated bank to offer investors access to yields in decentralized finance (DeFi) protocols. Launched…

Blog: Providing practical data protection guidance to the media sector

A blog by Elizabeth Denham, Information Commissioner Freedom of expression and freedom of information play a vital role in our democracy. Trust in our democratic system relies on people to ask questions of public bodies who operate on their behalf, to understand and scrutinise the decisions of local and national government. A free press is a crucial part of that trust. Journalists perform an essential function – whether that is by informing the public about what takes place in the halls of power or by holding elected officials and public…

SEC Chair Gary Gensler actually is pro-Bitcoin, Volt Equity CEO argues

The founder of Volt Equity believes that United States regulators have a fair reason to be slow in approving a pure Bitcoin (BTC)-related exchange-traded fund (ETF). Volt Equity CEO and founder Tad Park voiced support for the U.S. Securities Exchange Commission regarding the regulator’s unwillingness to approve an ETF that would track Bitcoin directly. In a Tuesday Fox Business interview, Park argued that SEC Chair Gary Gensler “actually is pro-Bitcoin” but is also “a little bit misunderstood” regarding his perspective on crypto regulation in the United States. Park specifically referred to…

SEC Chair Gary Gensler actually is pro-Bitcoin, Vault Equity CEO argues

The founder of Vault Equity believes that United States regulators have a fair reason to be slow in approving a pure Bitcoin (BTC)-related exchange-traded fund (ETF). Vault Equity CEO and founder Tad Park voiced support for the U.S. Securities Exchange Commission (SEC) regarding the regulator’s unwillingness to approve an ETF that would track Bitcoin directly. In a Tuesday Fox Business interview, Park argued that SEC chair Gary Gensler “actually is pro-Bitcoin” but is also “a little bit misunderstood” regarding his perspective on crypto regulation in the U.S. Park specifically referred to…